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July 1 Changes: What the New Financial Year Could Mean for You

July 1, 2024 10:55 am in by
Credit: Gold Central Victoria.

Ringing in the new financial year, the Federal Government is helping Central Victorians battle the cost of living with new relief measures rolled out today!

Federal Member for Bendigo, Lisa Chesters talks through the changes from 1 July that the Government is delivering: 

A tax cut for every Australian taxpayer, including 66,000 taxpayers in the Bendigo electorate 

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$300 energy bill relief for every Australian household and $325 for all 11,187 small businesses in the Bendigo electorate  

A freeze on the cost of PBS medication ensuring pensioners and concession card holders won’t pay more than $7.70 for their PBS medication for the next 5 years 

A third consecutive pay rise for 2.6 million low-paid workers including our cleaners, dental nurses and retail workers 

An expansion of Paid Parental Leave from 20 weeks to 22 weeks, which is set to reach 26 weeks by July 2026

Federal Member for Bendigo, Lisa Chesters says the fair and reasonable measures will help local households make ends meet in the short term as part of a longer-term economic plan, helping Bendigo and Central Victorians right now.  

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“I know that people in Bendigo electorate are under pressure right now, which is why the Federal Labor Government is delivering responsible cost of living relief without adding to inflation,’ Chesters says.

This builds on the federal governments previous cost of living measures, such as cheaper childcare, fee-free TAFE and bulk-billing. 

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